Mar 5, 2014|
Garland talks tax credits with political analyst Elliott Stonecipher.
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Automatically Generated Transcript (may not be 100% accurate)
Welcome back abuse for Bob modern. In the here at 12 o'clock hour today in the thing to think we're gonna talk about Louisiana lawmakers solemn. Planning to start fighting domestic violence or more patiently. And we have in the past. More of the waves are looking that it is gun laws in divorce proceedings the question is -- that get through the legislature. We're gonna have boarded the co authors of the brutal and representative from -- and -- the -- -- working pour and at twelve noon. O'clock -- worked through -- -- that says I think we're gonna repeat introducing today. In our little groups are gearing up for applied -- aboard the base -- they believe may be in detail by a governor -- To replace members the and so pleased to review of -- born. With the in other people. To keep the board from suing about it's 97. Oil companies for damage to -- We're gonna have founder and president -- dot -- on with the senators that wouldn't builds and -- Robert Bradley. Then after that in the 113 ago rim founding director who was elected regret it brigade and a world famous and Hansbrough could trigger a deep orbit and your arm in arm who brought it also won't comment on -- It's -- something. That to me is it is is a little confusing to Boca. Our experts coming in today we're -- its own site where this. Talking about ago stories that Brandon in the news. Saying that tax credits cost Louisiana three billion dollars. And in bringing up the the question is it is as good thing or is this bad thing is somewhere in the -- its own tribesmen often call when we talk about the -- for political analysts that we were -- -- -- the show. What do you think. We're what do you make of this during billion dollars. We gave weighs about 55%. Of corporate tax revenues. Over a five year period that cost about three billion dollars. Bright. And and it refers to that the march issue or article I think probably has won most of -- all in the advocate and -- first to report actual report by the -- so many of it is are from there prepare who's our. Legislative auditor. And that title is important he does in fact -- for the legislature. And this is an annual report that it goes to about a whole host. Of budget related spending revenues tax. Budget related terms of issues. -- and it does an excellent way for anybody who has the tan and interest to try to get Campbell. -- our state budgeting process. Is so incredibly shot full of holes and that's kind of what this report is about and they -- an excellent subject. It is kind of spotlight. How different things far from weak command of Austin that more and I think that Hitler and in this context is that. We believe. That the state budgeting process. As as does our household budgeting process. Is about income. And experience. It is therefore of course also about taxation code that some experience. And that's kind of the way every time we especially -- and fiscal session of the lows in the legislature. -- the kind of look at it that way we listen and report tree reports uses their talking about we practiced much and we spend this much and you know by the way at all about -- about the -- for -- has done a great piece on this in just the last few days -- He kind of stresses the weight outlook it is Garland and knows it. That mania was due CP has been telling -- this furlong mania was have learned it otherwise and it reminded. Him. In Louisiana are budgeting process is not about that what you really cute there. Budgeting in -- Is not an accounting process that the political. Process. And it drives the politics drives the budget not the other way around it's not as if they're not. And they hit land of of there prepare for pork can produce it. Have hundred to 800 million dollars a year in the figure that he's using over your pitchers over Purdue. Of our corporate. Tax revenues. Is given -- in the form of tax credit. Now that's very interesting to stumble. Why do we do scrapped its. Oil. We -- them so we can attract we're told I don't practice but we are tackled. So weak -- in a crash. This is an industry in job to well. About an alternative view of that and here's the second. Do we need those three billion at the subject of Carroll's Hitler report in the first place. If you're gonna give it away. Is it really over taxation. Is it relief it was the end of business has paid way too much in the first place. So politicians in governor generals and master it may -- the greatest week RC. So politicians can't use the Louisiana economic development department. To give our money away in the way -- be -- -- -- our money. It is not Payer money. So. The headline is were giving away 50%. Of our corporate tax revenue well. Our. What we don't -- is we overtaxed businesses so politicians. Have a slight or. Meanwhile. The biggest picture items were exposed to be looked at it. Why don't we need to be inducing. It. While our wheat growing -- blows you know. Commensurate with us in paralleling. Business growth. Why aren't we always and the eight ball why is it -- and it cannot protect structure together. It naturally. McGraw who use the population. Grows -- number of businesses and therefore jobs and grows the economy. By achieving here is as it's completely separated from the fact that we spend money we will. That's called the stated that grow. So they're almost done a great job and about away and he noticed our own in the opening of his report. He gives everybody knows it really quick glance at the decisions that were supposed to be making we should be deciding for example. On the motion picture tax credit program. Very popular and losing and so here's a great example. We all love it we want them here which featured on the Academy Awards the other -- senator senator -- here at the numbers. That program. Is costing the state of losing. A hundred in -- seven million. Dollars. In in one context I mean what -- early in the report is -- quote. April 2011 impact analysis showed an estimated economic output flat dollars and forty cents or one dollar credit given. -- put -- in numbers that matter. We get 27 million dollars in taxes from the motion picture industry. Our net cost of the program has been negative. It 200 million dollars. So we get something that we love. We love being in the pictures it's very popular politicians love it. Politicians you know and then they need to get to meet actors and actresses they get appeal to slide it never never. The fact it is. That kind of money could -- a big difference in the higher education that we've gotten used in the last six years. We're -- deep in the program and there are proposed. Economic development folks who knows that that's the good. -- -- -- -- -- that make that one decision that we give real tax credits and all the movies that come here. They would understand what our organization needed to relieve back. We're not prioritized as. Little we do at all politics. Aren't you know -- figure first reporter conduct. For the legislator. Missile legislatures. To legislate -- -- call for an. Four. This thing to come I've been told forever that the legislature really -- One. When all power. When we come back why did that he do these audits all 100 that he. Bring this what purpose does this serve. If he reportedly told true and over government control. Sunnis to change anything as he wants to. Double yeah its -- -- 53. Are welcome back we continued our conversation about news reports. That Syria. Abuja those tax credits have cost three billion dollars from replied your. And it goes -- -- -- and give away 55%. Corporate tax revenues. He -- so I've witnessed our political and useful to. Professional demographer. In the NC be forgotten about talk about this about that for a long time. And -- of -- basically in some agencies saying the tax break. On paired. -- symptom results have been tampered code. And in the taxes just to lure businesses. And individual -- Al. The special tax breaks and what we ought to be doing is it just making a bad road environment. Or business and people come to the state -- -- Wednesday and. Exactly it it is literally. The case that. That we use all manner of politics and some of it is striking out of the safety means we're doing stuff here that states quit -- in decades ago. And and we'd do it the columns that culture. -- Politics. In this budget process is so in green. It's so ingrained in -- makes this point -- people. And I understand a lot of folks -- -- and it don't even really get the fact. Act that whatever the twenty billion dollars a year is that we ever year but he spoke to run through retirement it's not -- They really believe the legislators really act like -- believe that their money. So they're very well how about the fact that they can. In a lot of corporate tax revenues into the capital upper tax revenue. And then. They just get to treat it as a political. You know gift that can gain -- album to institute the motion picture tax credit program being an example. You -- the audit of the effectiveness. Of that program which is mandated law. Is done by governor Jindal economic development park. I don't know anybody who keeps up with this stuff in any detail. Who believes that we should just -- Report that comes out of the woes and economic development department. So when we say an audit has been done. Let's say it with a wink and nod because it is going to act on it is gonna make that program look better. And it really is for the taxpayers. And it can even with the -- he still knows that that's an excellent program for people to stop and think. Are we using tons in terms billions of dollars over five years in this instance is what we're discussing. We used a lot of our money just so politicians can play games in in Bobby Jindal today. He uses this in our budget process in the course therefore all the -- revenue. To help him do the things that he believes gives them better chance to be pressed to someday. That's kind of the ultimate definition of how political visits. He uses the money to create the appearance of blows in being models stay the Palestinians ever. And that's all because of his political ambitions. Leading back support that I think is the one that we can all focus on our -- Two no no credits no incidents none of that silly. Look at the -- structure look at what it generally whether regardless what the revenue sources. Just look at how much money -- -- -- out Iranian citizens tax rebate tax credit business. And let's build from -- and where you're gonna end up. It's been recognizing that our tax structure. Does not to -- -- and a attendance. To grow its economy. Normally -- national average and just grow industry and our population. It is a tax structure that yields a theory -- optional Tuesday that is no longer competitive. But let me bring to win over losers Alexandria. Susan's -- alliances are appreciated call. -- -- -- -- whoever else out there right at the leadership. Out there when. I explain. -- -- -- Like if you can copy it but yeah it was a traction. That would naturally. Grow. Eighty. You know the budget it's important. And all we actually get a break and the coverage all change. Future and the appeal but weren't -- that. To the current normal. Eight in this country about the Third World country they got ripped a hole. Shouldn't we don't you like the tree. Action on mutual these drugs in all the Medicaid. Interest -- portfolio and what are your. Well Susan thank you it it is it's still to this day something that most people with lows in most of those of course have been here there along with Ohio and newcomers here's a lot of pictures -- memories of this. -- Wednesday. And he. Very aggressive as it turned we didn't at video on the part of governor Foster. To. In essence get more money from those two have more income and losing and being used that increase. As a way. To command of redistribute. The taxes. Through this change in sales tax applicability to -- to grow trees and so forth. We got in a position. In 2006. That day in battle regardless let's remember what figures here after Katrina. And Rita. The federal government -- 132. Billion dollars. Into and through -- One way or another that's over years of normal budget. Gushed through this. The legislature need you to Bobby Jindal governorship as well after. House of Representatives brand -- resolve this money in the so what we do in. Acting people in Louisiana. With higher incomes more. Staley was not supposed to do that I didn't understand it from the very beginning we were told it would do. So -- just so this opportunity to cut that matter revenue out hundreds of millions of dollars per year in Inco being the the governor Blanco. Until the governor in the position of realizing. That he running for president of course was about a half to get in the way of a big tax cut. So -- not to do it but he did. So now the people at our income levels are very happy Staley spill. And that brings up all of these other discussions that were having today about where a trio of revenue that we add in the past are now on -- One for the course and we've got about a million. We've got Stephen Moret coming up next and there's no -- out of mama and when I mentioned movies are mentioned. Taxing too many people it's a me too many companies or taxing them to march. And the -- is not -- he's gonna have statistics that say no and the movements or a benefit. And the sea is coral. It brought us the guy in the street a week ago. Who has the correct and from. Well I don't know how to say that and the dog and values is that no one who has worked over these many years since Bobby Jindal has been governor. Believes that. Anything that comes from the administration. Brother Kelly -- world. You can take at face value you just took a while the governor. Is that most politically ambitious single human being known in American politics today. He is the master of spin and he is not the master of fact and truth Steven Mora is land the responsibility of trying to reconcile that do. Oh it always a pleasure thanks a million rule will be doing more on this hopefully we get to push -- Our residents are covered and -- gutsy and Warren secretary of Louisiana economic development. Think -- to exceed 770. Who do you believe that your bolts on and or gives all the questions and comments tubes that zero point 870. Told pre and you were in the country its execs hated and zero.